If There Is a Market Outcome in Which the Marginal

question 1

Multiple Choice

If there is a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production and consumer surplus plus producer surplus is maximized, then

• A)maximum deadweight loss occurs.
• B)economic efficiency is achieved.
• C)profits are maximized.
• D)costs are minimized.

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Definitions:

Affective

Relating to moods, feelings, and attitudes; often used in the context of emotional responses.

Sexual Orientation

A person’s pattern of sexual attraction—to the opposite sex or to the same sex or to both sexes.

Born

Coming into existence by birth.

Intersex

Intersex is a term used to describe individuals born with reproductive or sexual anatomy that doesn’t fit typical definitions of male or female.